- Both entities have reached an agreement to guarantee the support of the bank's mainframe
- This alliance represents another step for Cecabank in its firm commitment to innovation and cybersecurity
MADRID, May 29, 2024 — Cecabank, the leading bank in Securities Services in Spain and Portugal and provider of specialized solutions for all types of national and international financial institutions and corporations, and Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, have signed a collaboration agreement for Kyndryl to provide maintenance and support for the modernization of the bank's mainframe environment.
Cecabank has created a technology plan based on three strategic objectives:
- Boosting the bank's business.
- Generating efficiencies in the use of technological resources.
- Enhancing operational resilience.
To achieve these objectives and boost resilience and efficiency, one of the fundamental pillars has been the transformation and modernization of the bank’s IT infrastructure.
This agreement with Kyndryl to manage Cecabank's mainframe environments reinforces the bank's commitment to cybersecurity, efficiency and sustainability. At the end of 2023, Cecabank acquired ownership of two IBM z16 mainframe servers. Kyndryl's extensive knowledge and experience in the management and modernization of mainframe technology has been the key to reaching this agreement. Kyndryl's mainframe services will help the bank focus on its core business and access the latest technological innovations, such as Kyndryl Bridge, an AI-powered open integration platform. This agreement will help Cecabank to better respond and anticipate the demands of the constantly evolving financial sector.
"Our new partnership with Kyndryl is another step forward in the bank's commitment to providing the best service to our customers. At Cecabank, we seek to collaborate with the IT providers specialized in each segment of the value chain and Kyndryl is a leading player in the support of mainframe systems," said Antonio Romero, Corporate Director of Associative Services and Resources at Cecabank.
"We are proud to be the trusted partner of Cecabank, whose services and support are key for Spanish financial institutions, and which is strongly promoting technological innovation in the sector," said David Soto, president of Kyndryl Spain and Portugal. "Modernizing the bank's technology environment where its core applications reside can help them to take advantage of the most innovative technologies and future-proof the bank’s IT infrastructure."
About Kyndryl
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
Kyndryl press contact
press@kyndryl.com
